SBI e-Mudra Loan: Eligibility, Interest Rate, Schemes

PM E Mudra Yojana Interest Rate and Eligibility Check for SBI E Mudra Loan 2023: How to Apply the State Bank of India introduced SBI E Mudra as part of the Prime Minister’s Mudra Yojana. A new program called the Yojana was launched this year to assist small and medium-sized businesses (SMEs) with financial assistance.

Go to and fill out the SBI E Mudra Loan Online Application Form 2023 if you wish to apply for an SBI E Mudra Loan. SBI Loan to E Mudra Applying for a job online is easy to follow these guidelines. Check out the next section’s qualifying conditions for SBI E Mudra Loans.

What Is SBI E-Mudra Loan?

With an SBI Mudra Loan, banks lend money to small and medium-sized businesses at low-interest rates, nominal administrative fees, and flexible repayment choices to such companies. For example, raw materials, inventory, working capital, plant and machinery purchases, and other company costs can all be funded with this loan.

The Indian State Bank (SBI) Businesses in the service, commerce, and manufacturing industries can apply for a Mudra Loan. This is one of the government’s most outstanding and most beneficial programs for small, micro, and medium-sized firms to get loans.

SBI e-Mudra Loan Overview

Scheme’ NameSBI E-Mudra Loan
AuthorityPradhan Mantri Mudra Yojana (PMMY) 
BeneficiariesCitizen of India
Interest Rate8.40% to 12.35%
Types of SBI Mudra LoanShishu, Kishor & Tarun
Loan AmountUp to Rs. 10 lakh
Eligibility CriteriaTo Existing and New Businesses
Collateral SecurityNil
SBI e-Mudra Loan: Eligibility, Interest Rate, Schemes

Documents Required for SBI e-Mudra Loan

  • A voter’s ID card, Driving License PAN Card, Aadhaar Card, Passport, or other photo IDs issued by a government agency are acceptable forms of identification.
  • The following are acceptable forms of proof of residency: a recent utility bill (phone or electricity), a voter’s ID card, an Aadhaar card, a passport, or any other document issued by a government agency, such as a Panchayat or a municipality.
  • If they have a bank account, they’ll need to provide the bank statements for the last six months.
  • Applications should be supported by quotations for machinery and other goods that the firm will need to acquire to be considered.
  • Two current passport photographs of the applicant are required.
  • If you are an SC, ST, OBC, or another minority group, you need a caste certificate.
  • These contain copies of applicable licenses, registration certificates, lease or rent agreements, or other papers that demonstrate the business unit’s ownership, identity, and location. Businesses that have a Udyog Aadhaar Memorandum can also submit it.
  • Individual and corporate tax returns from the previous two years must be submitted.

SBI E-Mudra Loan: How to Apply Online?

Follow these steps to apply for an E-Mudra Loan from the State Bank of India online.

  • SBI e-mudra portal requires that you first go to the official website and click on the continue for E-Mudra button (
  • Now that you’ve read the loan application instructions, you must click the “OK” button to proceed.
  • Fill in your Mobile Number, SBI Current or Savings Account Number, and the amount of money you need to borrow, and you’ll be sent to a new page. Once you’ve done that, press the next button.
  • You’ll need to fill out and submit the application form in the next step.
  • After reading the terms and conditions, click the “I accept” button with an e-signature to complete the transaction. You must enter your Aadhaar number here to grant your permission for Aadhar for e-Signing.
  • The OTP will be sent to your Aadhar-registered cellphone number at the end of the process. SBI E-Mudra Loan applicants must now input the OTP number to complete the online application.

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There are three main types of MUDRA loans. Interested parties can submit their applications in the appropriate category.


Up to Rs 50,000 in loans are available at an interest rate of no more than 1% per month or 13% per year. The payback time is 15 years.


Loans ranging from Rs. 50,001 to Rs. 5 lakhs are offered. Lenders take an applicant's credit history into account to determine the interest rate. The bank can set repayment terms, although they must not exceed five years in totality.


From Rs. 5 Lakhs up to Rs. 10 Lakhs, Tarun category offers loans. Interest rates are determined by the lending institution based on the applicant's credit history and other factors specified in the program's criteria. It is up to the bank to decide how long the payback period is, although it should not exceed five years.
CategoryLoan AmountMargin Interest Rate
SHISHURs 50,000Nil9.75%
KISHORRs 5,00,00010%9.75%
TARUNRs 10,00,00010%9.75%

What Are The Benefits Of SBI Mudra Loan?

  • This plan is excellent for micro, small, and medium-sized business owners. Entrepreneurs may grow their enterprises without any obstacles thanks to this tool. There are several advantages to the State Bank Of India Mudra Loan.
  • With Mudra Card, you may take advantage of an overdraft. The Mudra Card serves as both a credit card and a debit card. You may make purchases using Mudra Cards at merchant POSs and get cash from ATMs using the same card.
  • For one, the Mudra Loan is collateral-free, and there are no costs associated with the loan application procedure.
  • Under this program, you can use the loan to expand your business, and purchase goods, and machinery, among other things.
  • SBI Mudra Loan has a lower interest rate than the bank’s conventional business loan provides.
  • SBI Mudra loans come with a lower interest rate for women applicants, so that’s a plus.

Eligibility Criteria

  • The borrower must be between the ages of 18 and 60.
  • A minimum of six months must have passed from opening the deposit account.
  • Individuals can borrow up to Rs 1 lakh under the program.
  • Loans of up to Rs.50,000 can be applied in a matter of minutes.
  • If borrowers wish to borrow more than $50,000, they must visit a bank location to submit the necessary paperwork.

Application Rejection of Mudra

  • The candidate for a Mudra Loan should not submit any incorrect paperwork.
  • The bank will not lend you money if they don’t think your idea has greater future chances.
  • The applicant has already taken out a business loan.
  • Because of this, the applicant is ineligible for a loan.

Additional Benefits

The MUDRA Card is a RUPAY debit card that may be used to make cash withdrawals and other purchases at merchant locations. We’ll go over each of its features in more depth in the following sections.

With the Pradhan Mantri Mudra Yojana Plan, you may get funding for your varied business requirements. The MSMEs in the country would have improved access to financing under this approach.

The PMMY programme offers low-interest loans to people who need money for business purposes. This policy has aided Jobs and GDP growth.

The SBI E Mudra Loan is the most efficient option to receive a loan to realise your company idea because it has low-interest rates and no security requirements.

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What is the maximum amount I may borrow via the PM Mudra Yojana 2023?

Under the PM Mudra Yojana 2023, you may acquire a loan of up to Rs 10 lakh for your business.

Where Can I Get an SBI E Mudra Loan in 2023?

You may apply online at and fill out the necessary data to obtain a Mudra Loan under the Yojana.

What are the eligibility requirements for applying to PM Mudra Yojana?

You must have been a resident of India for the previous two years and have a regulated business in India.

What is the SBI E Mudra Loan Online Apply 2023 Process?

To obtain SBI E Mudra Loan Online Apply 2023, go to and fill out the E Mudra Loan Application Form.

What is the interest rate on the SBI E-Mudra Shishu Loan in 2023?

Under the SBI E-Mudra Scheme 2023, a load of 50,000 is subject to a 9.75 percent interest charge.

Important LinksDirect Links
SBI E-Mudra Official WebsiteClick here
Apply for E-Mudra LoanClick here
BMCRI HomepageClick here

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